Thread regarding Phillips 66 layoffs

@jd so if shares are unchanged would you be happy with the price difference? Shares outstanding does not move much — at least for Phillips who has little cash to buy back shares!

Literally just said. % change YOY is a great metric. The dollar value is irrelevant since it's dependent on outstanding shares.

I'm not arguing P66 is a great company. Our ELT is just godawful, I'm just tired of seeing "This stock is 85 dollars more! Wow!" It's meaningless

@g3 still waiting…what is the metric you suggest other than share price appreciation and total shareholder returns? They tell the same story: PSX is an underperformer.

Pick and choose favorable operating metrics or cite some savings number than an investor can’t see on the income statement, but investors and Elliott are not buying in.

Q2 should be another great quarter, let’s see if the company performs. Chemicals margins are strong, refining cracks are extremely healthy, demand for gas and crude running through pipes has never been greater. The result should be a record. Can trading make money?

@e3 hey look! An actually useful metric rather than share price difference. Good job! Post that every ten fu--ing minutes instead of the price difference.

I think a lot of us don’t agree with the strategy but end of the day do what is told for the paycheck to take care of our families. These is no one to blame outside of ELT

Investors haven’t bought-in since P66 bought DCP. Catastrophic mismanagement. Then we hire tractor man whose background is in facilitating the destruction of a legacy American company. Don’t even get me started on the executive esquire and her role in nearly destroying Norfolk Southern. Look this ELT up you’ll see what they’re all about, what they’ve always been all about. Ignorance is bliss at P66. We’ve got the GO alright - the GO right to being acquired.

@ea sure, there are differences but comparing PSX vs. VLO and MPC share prices ABSOLUTELY matters. BP is a shitco and I don't think the OP mentioned them.

If any of these posts are coming from PSX investor relations, PSX are sc--wed. Share price movement relative to competitors is perhaps THE most fundamental thing investors look at. The OP is clearly using the absolute gap as a proxy for the percentage change that is implied in monitoring the gap. Arguing against that is stupid...and dangerous. Especially if you are advising the management team. Of course, PSX has created a culture where the emperor is told how fine his clothes are.

@dr, comparing our share price to BP's share price is not a relevant comparison for a couple of reasons.

1. BP is vertically integrated company
2. BP has been very badly managed for many years.
   The correct comparison of our share price compared to others is VLO and MPC. They are our true peers.

@a5 what are the metrics that matter? Please tell us. I have a friend in Palm Beach that sees a widening gap with peers and wants to know what the management team are looking at if they don’t find relative share price appreciation important.

@dt oh, and the gap is now $86. But I guess that is not an issue when the share price gap keeps growing. I bet Elliott cares

You are all fools. Please educate me.

So when I see this YTD share performance:
PSX +40%
MPC +63%
VLO +58%

That spread in share prices doesn’t matter? Id--ts.

The gap in share price is just a simple way to monitor the lagging performance of PSX RELATIVE to others

I get share price in isolation does not matter against another, but its movement relative to another ABSOLUTELY MATTERS

Am I the d-mb one or are you?!

@dr This honestly is the best post ever! Just shows the lack of education in the general population here at P66.

Wow! PSX stock is $135 more than BP's! We must be the most amazing company ever!

@a5 There is no point in trying to fight back of education to some of these posts. I appreciate you trying and completely agree!

I am once again begging you to look at metrics that matter.

Yes MPC is kicking our a-s. Raw stock price has nothing to do with it